Reverse Mortgages:
Home Equity Conversion Mortgage (HECM) FHA Reverse Mortgage
A Home Equity Conversion Mortgage (HECM) is a federally insured reverse mortgage. Ninety-five percent of all reverse mortgages are HECMs. The Federal Housing Administration (FHA) sets limits on how much a HECM borrower may receive. Qualifications are based on your age, your home's value and location. HECM loans give you a wide choice in how you may receive the cash from the reverse mortgage.
Private Reverse Mortgages
These private reverse mortgages have virtually no limit on home value or the amount of the loan. As a result, the amount of money available to the homeowner may be substantially greater with a private reverse mortgage than with other options.
Traditional Mortgages:
A reverse mortgage is a great financial tool for seniors in today’s world. Unfortunately, some seniors are unable to qualify for a reverse mortgage. In order to help our senior clients navigate the turbulent financial environment, EquiPoint offers all types of financing including:
- FHA Purchase and Refinance Mortgages
- Debt Consolidation / Cash out Mortgages
- Conventional Fixed Rate Mortgages
- New Home Purchases Mortgages
- Investor Mortgages
- Jumbo Mortgages
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